2 Price sensitive announcements announced by Sam Riggall for HoAs ie MoUs.
CLQ has clearly announced MoUs/HoAs. Everyone does. It is standard practice on the ASX that you get the other parties approval before announcing them as an MoU partner. The ASX makes you announce the partner nowadays anyway. If cleanteq has failed to name counterparties its likely they havent been given authority to do so. There are a host of reasons why this could be the case and not all are negative. Strategic and political reasons can play a part. For PM1 all the parties are Korean which helps and I believe not by accident. CLQ is in bed with the Chinese, which can prove problematic to the Koreans, Japanese and a fair chunk of the globe at present. It doesn't mean they wont deal, but they may want to keep it under wraps for the time being if indeed they are in discussions.
Some of the MoUs for battery companies in the last 12 months
BSX - MOU with Ecopro (110m MC) A4N - MOU with Orica (207m MC) FYI - MOU with Alcoa (55m MC) CLQ - HoA with Panasonic, Relative Space (202m MC) TMT - MoU with Big Power Electrical Tech Xiangyang (44m MC) AVL - MoU with Enerox (38m MC) CXO - Mou with Transamine (75m MC) ORE - Mou with PPES (toyota and panasonic JV) (1.4bn MC)
Even $1.5bn PLS announced an MOU for downstream processing with POSCO last year.
Kidman announced an offtake agreement with Tesla in early 2018, mid 2018 it announced a HoA with Mitsui and at the end of the year they still announced an MoU with LG Chem.
It is almost always the best course of action to announce an MoU if possible. If your captain doesn't think so that's his prerogative but I'm sure that's information that long suffering shareholders would appreciate.
PM1 Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
